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South Korea Household Income Drops at Fastest Pace in at Least 3-1/2 Years

South Koreans’ disposable income dropped in the second quarter by the fastest pace in at least 3-1/2 years, government data showed on Thursday.

Households’ disposable income for the April-June period fell 5.9 per cent in real terms from the same quarter the year before, much faster than the 1.3 per cent fall in the preceding three months, according to Statistics Korea.

It was the fourth straight quarter disposable income was lower than a year earlier and marked the biggest percentage fall for the data series that began in the first quarter of 2020.

Source: CNA

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